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The Global Risks Report 2019

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World leaders face extraordinary hurdles in 2019, many arising from weak economic growth, climate change, inequality, geopolitical strains and technological disruption. According to risk experts at the World Economic Forum, policy makers at the national level must also acknowledge the dangerous risk of inaction, as perils mount due to countries’ retreat from multilateralism. This annual in-depth study examines the many interdependent challenges confronting effective governance and the economic advancement of people around the world. Business leaders, government officials and policy analysts will find valuable insights in the report’s comprehensive and robust presentation of 2019’s most consequential risks.

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The World Economic Forum is an independent global organization that engages leaders of business, politics, academia and society to improve the state of the world.

Summary

“Global Risks 2019”

External and internal threats to nations abound. Disruptions lurk in economic systems, world balances of power, the environment, technology advances and the fabric of societies. Climate change, though, stands out as the number-one risk globally in 2019 in terms of its likelihood and the severity of its consequences. According to the Intergovernmental Panel on Climate Change, only a dozen years remain for leaders to make transformational efforts toward meeting the Paris Agreement’s 1.5ºC [2.7ºF] temperature increase threshold. Extreme weather is altering ecosystems, driving a decrease in biodiversity and the loss of nutrients in food crops.

The foremost international economic risk is feeble GDP growth. The IMF projects steadily declining growth in the output of the developed economies, sliding from 2.4% in 2018 to 1.5% in 2022. While developing countries’ combined output increase is likely to remain steady, China might experience a drop in GDP growth to 5.8% in 2022 from its 2018 level of 6.6%. These forecasts fuel growing concerns about the management of high global debt, which overall stood at 225% of international...